Farmers & Merchants Trust Co of Chambersburg PA continued to hold its stake in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,058 shares of the medical technology company’s stock at the end of the second quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Medtronic PLC were worth $183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Israel Discount Bank of New York bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $117,000. Birch Hill Investment Advisors LLC bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $120,000. Farmers National Bank bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $121,000. Proficio Capital Partners LLC boosted its holdings in shares of Medtronic PLC by 33.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $154,000. 80.62% of the stock is owned by institutional investors.

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Medtronic PLC (NYSE MDT) traded up 0.21% during trading on Friday, reaching $79.70. 4,593,164 shares of the company were exchanged. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm’s 50-day moving average is $82.04 and its 200 day moving average is $83.67. The company has a market capitalization of $107.96 billion, a P/E ratio of 26.83 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.

Several brokerages recently commented on MDT. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. BidaskClub downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. UBS AG reaffirmed an “overweight” rating on shares of Medtronic PLC in a report on Thursday, August 24th. Jefferies Group LLC reduced their target price on shares of Medtronic PLC from $103.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Finally, Barclays PLC reduced their target price on shares of Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $88.78.

In related news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Medtronic PLC Company Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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